Your will should be an ever-evolving legal document to ensure it continues to protect your interests and represent your wishes as your life changes over time. Although we generally recommend looking over your will approximately once per year, there are certain life situations that should prompt a review of this legal document and your other estate planning documents.
After you end the estate planning process, we suggest taking a second look at your will if your marital situation changes. For example, you should update your will if you get married or if you get divorced. This will prevent your assets going to the wrong person in the event of your death.
If you bring a new child into your family, either through birth or adoption, you should plan on editing and updating your will. One major reason for this is that adding a new child to your family means you will need to name a legal guardian for them.
Additionally, a significant change in your finances should prompt you to look over your will. For example, if you come into a large inheritance, this may change who you want to designate as your beneficiaries, and you can update this in your will.
Whether a major life event prompts you to change your will or you simply want to make changes to your beneficiaries, we are always here to help you with this process. For more information about our estate planning services or to set up a consultation, contact our law firm.